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Soonghee Lee The Supreme Court of Korea rendered an en banc decision on four knock-in/knock-out currency option cases (the KIKO cases) last September. In the KIKO cases, the Korean exporters argued that the KIKO currency option contracts (the KIKO contracts) were void, and should either be rescinded or terminated. They argued that the banks had waived the exercise of their call options, and sought the return of monies paid to the banks as unjust gains; they also argued that the banks had committed tort by violating their obligation to explain and violating the suitability principle during the process of entering into the KIKO contracts, and claimed compensation for damages. A summary of the major legal principles determined by the Supreme Court last September is as follows.

Republic Act 10607 (RA 10607), a law which amends the Insurance Code of the Philippines (Presidential Decree 612, PD 612), recently took effect.

Gizela Tuhurska The use of email for personal use (such as visiting social network sites and online shopping) is considered the most frequent forms of abuse of company resources. Employers are battling this trend through more consistent enforcement of codes of conduct and by closely monitoring how their employees use work time and resources. This means that various monitoring methods are being put into practice, such as checking employees' web traffic and the emails they send and receive, and even the installation of monitoring cameras. However, as there is fairly strict legislation in Slovakia regarding protection of privacy and personal data, as well as mandatory provisions in the Labour Code, employers' hands are tied to a certain extent and these forms of monitoring can only be employed in compliance with strictly defined conditions. That legislation has been reinforced this year by the adoption of a completely new Act on Personal Data Protection and an amendment to the Labour Code, which expressly governs the matter of monitoring employees in the workplace. Under existing legislation, employers can only employ monitoring in the workplace if there is a compelling reason, whether in respect of protecting the company's property, if the employee handles the company's production technology, or for the sake of safety in technologically difficult production processes. Although the consent of employee representatives (trade unions or works council) is not required for installing a monitoring system, by law the employer must consult them on this matter. Furthermore, no monitoring system can be put into place without notifying the employees as to the extent of the monitoring, how it will be conducted and how long it will last. There are no specifics as to how employees should be notified, but practice has shown that it is best to put it in writing as an internal guideline which all the employees will sign as proof they were made aware of it. That way, in the event of a law suit or an inspection by the Office for Personal Data Protection of the Slovak Republic, the employer will be able to demonstrate that it notified the employees in compliance with law.

Regulators have taken steps to clarify the enforceability of put and call options in India. But there are outstanding issues to be addressed

Carlos Fradique-Mendez Laura Villaveces Hollmann Although the term green shoe came to be known in international markets more than 70 years ago, when the Green Shoe Manufacturing Company first implemented an over-allotment option as a price stabilisation mechanism in a Colombian offer, no such mechanisms have ever been fully implemented until very recently. In May 2013, Colombian cement company Cementos Argos, used a price stabilisation mechanism for the first time in its preferred share offer, which totalled 1.6 billion pesos ($800,000) after transaction managers exercised a green shoe option. The green shoe option was allowed in this transaction by the Colombian regulator in light of the particularities of the structure, including the fact that the offer was structured as a simultaneous offer, and was implemented as a two-tranche process.

Siew Kam Boon,

The Netherlands offers a case study of how member states are transposing AIFMD into national law

Thomas Cartwright,

Simpson Thacher & Bartlett's Patrick Baron and Proskauer Rose's Maximilian Kirchner analyse the new approaches to change of control transactions in bond indentures

Sidley Austin's Michael Sackheim analyses the transaction structures that will and won’t fall afoul of US anti-evasion rules